Biopsy is expected to remain the most lucrative cancer diagnostics test due to technological advancements such as fine needle aspiration
The biopsy test type segment dominated the global cancer diagnostics market in revenue terms in 2016, and the trend is projected to continue throughout the forecast period. Biopsy is the largest segment, which was valued at more than US$ 11 Bn in 2016 and is expected to expand at a CAGR of 7.4% over the forecast period. The liquid biopsy test type segment is expected to register fastest Y-o-Y growth throughout the forecast period. Even though liquid biopsy is becoming more popular due to its non-invasive nature, to obtain an accurate diagnosis, solid tumour biopsies or tissue biopsies are still preferred.
Despite the headwinds of regulatory uncertainties, diagnostic companies continue to invest in high dollar molecular diagnostic tests for cancer research
To purchase test reagents, a majority of diagnostic companies place these instruments in diagnostic and research laboratories through reagent rental contracts in exchange for long-term contracts, as tests can only be run in laboratories possessing instruments for which the test is developed and approved. Moreover, newly developed tests for particular instruments need to be mass marketed to diagnostic laboratories, general practitioners, and health insurers. For instance, big players such as Roche Diagnostics, Abbott etc. license their cancer test products to regional geographical partners who either distribute these products in the region or develop reagent kits for their instruments. Addressing the huge needs in cancer diagnostics require the participation of established diagnostics industry players.
Cancer Diagnostics Market: Biopsy Test Type Segment Expected to Remain Dominant Throughout the Forecast Period: Global Industry Analysis and Opportunity Assessment 2016 - 2026Buy Now
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